{"id":198085,"date":"2026-06-09T07:00:56","date_gmt":"2026-06-09T05:00:56","guid":{"rendered":"https:\/\/luxus-plus.com\/?p=198085"},"modified":"2026-06-08T17:28:55","modified_gmt":"2026-06-08T15:28:55","slug":"saks-global-receives-court-approval-for-its-reorganization-plan","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/saks-global-receives-court-approval-for-its-reorganization-plan\/","title":{"rendered":"Saks Global receives court approval for its reorganization plan "},"content":{"rendered":"

Saks Global, the owner of luxury department stores such as Bergdorf Goodman, which has been in bankruptcy since last January, received court approval for a rescue plan from a U.S. judge on Friday.<\/h4>\n

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A reorganization is on the horizon. On Friday, Judge Alfredo Perez of the U.S. Bankruptcy Court for the Southern District of Texas<\/strong> approved the rescue plan for Saks Global, which has been in bankruptcy since January 14.<\/p>\n

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\u201cI think this is an extraordinary outcome because the company (\u2026) was in a very dire situation\u201d, Alfredo Perez told AFP. The plan was \u201coverwhelmingly approved\u201d by creditors<\/strong>, Debra Sinclair, an attorney at the firm Willkie Farr & Gallagher representing their committee, noted at the start of the hearing.<\/p>\n

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He believes, in fact, that this plan will enable the group to \u201cget back on its feet.\u201d As the owner of the luxury department stores Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman<\/strong>, Saks Global\u2019s debt stood at approximately $3.4 billion at the time it filed for bankruptcy protection, according to U.S. media reports.<\/p>\n

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Saks Global confident about the future<\/h2>\n

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